Latest ABS news
With a new owner, revamped management team and a change of headquarters, solar securitizer Spruce Finance is looking to chart a course forward following a turbulent couple of years in which the solar loan originator's early backers are said to have been "wiped out."
Guidelines released by the European Banking Authority (EBA) on Wednesday brought the European ABS market much-needed clarity, as issuers grapple with new rules set to apply in the new year.
Residential solar developer Sunrun priced its second ever securitization on Wednesday, Sunrun 2018-1, a $378.5m offering backed by leases and power purchase agreements tied to rooftop solar systems.
FTSE 250 guarantor loans specialist Amigo Holdings, which reported a year-on-year growth of 34% in customer numbers for the six months to September and a 56% increase in profits, has picked Nayan Kisnadwala as the new chief financial officer to replace Simon Dighton.
Turkey pushed on with plans to raise TL3.15bn ($590m) through a securitization of mortgages, completing the deal but causing on-looking bankers to scratch their heads at the rationale.
Tesla filed paperwork last week signaling its intention to sell its second ever auto ABS deal.
After its successful debut in the Chinese ABS market, Genius Auto Finance, the joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, scored an equally popular follow-up deal at an even tighter price.
Plenum CAT Bond Fund has received a sustainability certificate for next year, and the assessment process may help guide other investors in insurance linked securities (ILS). But it also raises questions about the transparency of insurers’ liabilities more generally: is the socially responsible finance movement looking at insurance firms in the right way?
Commonwealth Bank of Australia has linked a short-dated unsecured bond to Sonia, the latest use of the alternative risk-free rate as borrowers become more comfortable with the format.
Strategists at Société Générale have highlighted potential problems with the preferred fallback method for derivatives contracts referencing interbank offered rates.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
Latest securitization people & markets news
- EBA guidelines on STS provide 'welcome clarity' for EU ABS
- LendInvest primes securitization launch with multiple hires
- Starwood hires Deutsche's ex-head of structured credit
- SocGen flags issues on construction of Ibor fallbacks
- Former Obvion treasurer Bronzwaer joins PCS initiative
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||9,637||29||10.93|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||103,866.05||303||8.92%|
|4||Wells Fargo Securities||92,651.83||270||7.96%|